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A good board appointment.
I can't see him joining unless he through RRR was going places.
DYOR
https://twitter.com/RRR_RedRock/status/1315557328867950593?s=20
https://twitter.com/RRR_RedRock/status/1315557328867950593?s=20
https://twitter.com/Share_Talk/status/1418498718551138306?s=20
Very, very interesting. If you check out the oreteck report for Blue Ribbon you will see that it refers to two trend lines: Ballarat East and Ballarat West. This work is on Ballarat East.
If this gets censored bit is, share underscore talk
DYOR
https://twitter.com/*************/status/1417037677833162763?s=20
Hi, the censored bit was share talk news without the spaces.
Basically it was the drilling update from ECR yesterday. They are drilling to the north of the our license called Blue Ribbon. It doesn't look that line goes through Blue Ribbon but a second line does. The second line likely replicates the first line which was the Ballarat East line. Both are DMS and likely they are similar to each other.
The results are in line with what you would expect nothing spectacular but the drill results show gold in the DMS line. Better for them to have gold than not. Anything that is good for the Victoria gold scene is good for RRAL.
DYOR
https://twitter.com/*************/status/1417037677833162763?s=19
Looks like good news for RRAL and Blue Ribbon.
DYOR
So this is where mr unhelpful is today
He’s avoiding the ntog board as I’ve called him out
Gold on the move. RRR should follow.
We should be getting the lab results back from the initial drills pretty soon.
Fingers crossed. If the results match the expectations we are on a winner.
DYOR
https://twitter.com/TereaAfrica007/status/1411233733387096067?s=19
No comment needed.
DYOR
Helpful my investment decision was after talking to AB around the time of Greenland and I then listened to all his excuses until someone forced him to do an RNS as they found out the site was up for sale. Should have sold then but such is life.
PS you shouldn't make any investment decisions off anything I say. Always do your own research.
Thanks once more Helpful. Appreciate your remarks.
Hard questions again.
Normally companies say that they have no plans and then do a placing with some excuse. In this case, the board has no authority to do a placing: it would need to hold a GM to action a placing and waive pre-emptive rights. That should remain the case till next January/February when they have another AGM.
The actual cost of the drilling itself isn't that great: I suspect $50/60k in both DRC and Kenya. It could be both drill programmes get extended, in which case add another 50% on. There have been some warrant exercises in recent weeks that more than cover that cost.
In the meantime, RRR can sell JMS shares, POW shares and Juno shares if it wants to.
If the RRAL news comes out as I expect in the next week to ten days then the SP will be higher and some of the 0.9p warrants will get exercised.
DYOR
Helpful sorry to be a pain but do you think we will have to do a placing to pay for all the drilling activity we are undertaking? I don't know if the JMS money is enough to cover it or whether we need to pay back any short term liabilities etc. Just a bit concerned we might be spending loads which of course is inevitable.
It is very clear that legacy issues are probably holding some investors buying in but there are legacy issues with many AIM companies , this does not stop them rising multiples from the lows on the right news. I recall GGP was classed a 'dog' stock for many years but look what happened there, more recently Wishbone Gold where Richard Poulden was a dirty word for many, it has moved from 2p to 20p recently.
Anyone who is a serious sector investor cannot ignore the portfolio of projects/investments that Red Rock has on the book, the tie up with Power Metal is also very positive as Paul Johnson is a master promotor. News-flow seems to be ongoing from now and everyone knows news is the elixir of upside on AIM.
The stock is quite tightly held, the free float is quite small, perfect ingredients for strong upside form the low £10m m/cap.
0.84p and above is a buy.
RNS: the CEO, Priyank, has just bought another circa 5mil shares.
Well let's hope.
Thank you helpful for taking the time to reply. I am nearly 70 now so may not see all the fruits AB has sown or has not sown. We shall see.
Don't ask hard questions.
There are two different things: SP and NAV. The latter is easier. Do what Briarbank did all those years ago and do an SOTP calc.
RRAL 2.5p a share
POW 0.2p a share
Elephant 0.75p a share
Migori no idea but it should be at least $30 an oz and call it 1mil oz gives you 2.5p a share
Luanshimba no idea but a decent amount. The asset extends into the block to the SW and so is pretty large. Down to the drilling.
Musonoi no idea depends if a deal is finally done with Glencore, using the Kalongwe analog you are talking 3.5p a share
Mt Ida depends on what Juno does
El Limon probably pays $200k
RRAL II no idea
JMS maybe 0.25p/0.3p
Cote d'Ivoire no idea but I expect things to pick up there, they have a new mining code and it is starting to get jiggy.
Adidi Kanga is the biggie: potentially 23 mil oz of gold, 3.7 mil in a 2012JORC. No idea how that will turn out but that fact that GRL hasn't been able to take the asset back is good for us.
And the biggest of the lot is Mt Ida. Depends what Juno does. If Juno says that everything is boxed off on Mt Mason and it will be in production early Q1 22 and is therefore committing to bringing Mt Ida into production in 2024, hold on to your hat. On the business plan from 2013/14 and then pricing the royalty was worth $10mil pa to RRR: given current pricing you are talking $15mil pa.
No idea what that translates to but the SP should be higher than where it is now.
DYOR
Helpful you seem a descent person. Would you care to give an estimate of where you see the SP at say year end?
Well you need to step back and take the emotion out of it and just be cold and calculating.
I have said multiple times that AB did two stupid things and I have told him to his face it was stupid: making the second loan to Steelmin and the diamond deal. Otherwise in my investing time here we have done okay. Everyone said he wouldn't get Kenya back and everyone said DRC was a waste of money but Luanshimba will prove them wrong. Similar about Victoria, Juno and Elephant. RRR is much further on than two years ago. The ball is bouncing around in the penalty area, the ball just needs putting in the back of the net now. Luckily, there is more than one ball to put in the back of the net.
But the main thing is the commodity cycle. In 2010/11 when people thought AB was Superman, it was the end of a commodity cycle. Here we are at the early stages of a new cycle, with a weak dollar and rising inflation.
RRR is in a decent position. The two drill programmes on their own will make a difference. There is up to 8mil oz of gold at Migori and Luanshimba is on the face of it a real goer but until they get some drill core analysis we don't know 100%.
DYOR
POW looking better.
Helpful you might be right but I remember Briarbank years ago going through each project we had and giving them a valuation of so many million only to suffer the terrible dilution that then occurred and he lost his faith in AB's words. I am 90% down here and not looking for sympathy but AB seems to be a failure in what he does. Sorry to be negative.